| SB 0771 | Authorizes owners of self-storage facilities to charge a lessee a late fee for failing to pay rent on time |
| Sponsor: | DePasco | |||
| LR Number: | 3494S.01P | Fiscal Note: | 3494-01 | |
| Committee: | Insurance and Housing | |||
| Last Action: | 05/11/00 - Reported Do Pass H Commerce Committee | Journal page: | H1919 | |
| Title: | ||||
| Effective Date: | August 28, 2000 | |||
SB 771 - This act authorizes owners of self-storage
facilities to charge a lessee a late fee for failing to pay rent
on time. The late fee charged by the operator shall be stated in
the rental agreement or an addendum to the agreement. A late fee
of $20 or 20% of the monthly rent shall be deemed reasonable. An
operator may charge a late fee varying from this amount but the
operator will have the burden of proving that the fee is
reasonable. The operator of a self-storage facility may recover
reasonable rent collection and lien enforcement expenses in
addition to late fees.
STEPHEN WITTE